Breaking News: IRS Changes ACA Reporting Deadlines

Sovos
December 29, 2015

This blog was last updated on June 27, 2021

Have you heard? The Internal Revenue Service just announced its decision to extend Affordable Care Act reporting deadlines under IRC sections 6055 & 6056. The extended due dates will now be:

  • March 31st, 2016 (from January 31st) for printing and mailing 1095 Forms to recipients and;
  • June 30th, 2016 (from April 30th) for sending the 1094 electronic transmittal to the IRS through the new AIR system portal

Although the IRS is providing this extension, it is important to work diligently to provide 1095 Forms to your covered employees and customers as quickly as possible so they can accurately complete their 1040 individual tax returns. For this reason, Sovos Compliance recommends that you process on the original January 31st schedule by continuing to import, validate, and send your data as scheduled. We can help you meet this deadline and fulfill all your reporting obligations using Taxport ACA. Additionally, with this deadline extension, automatic and provision extension requests previously available in this process are no longer available for employers. This means these new reporting deadlines are final. Sovos has over 30 years of experience working in the tax reporting world. For those familiar with tax information reporting, a last minute change by the IRS is not unexpected. The IRS frequently makes last minute changes with deadlines and/or forms with other requirements. As a trusted compliance partner, Sovos promises to continue to stay vigilant for any additional last minute changes and inform you on how they may affect your reporting process and timelines. We update our systems appropriately and provide detailed guidance with respect on how to maintain compliance. For more information on this important ACA reporting change, please see the full text of the IRS Notice 2016-4 or visit our support website for any help you may need.

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Author

Sovos

Sovos is a global provider of tax, compliance and trust solutions and services that enable businesses to navigate an increasingly regulated world with true confidence. Purpose-built for always-on compliance capabilities, our scalable IT-driven solutions meet the demands of an evolving and complex global regulatory landscape. Sovos’ cloud-based software platform provides an unparalleled level of integration with business applications and government compliance processes. More than 100,000 customers in 100+ countries – including half the Fortune 500 – trust Sovos for their compliance needs. Sovos annually processes more than three billion transactions across 19,000 global tax jurisdictions. Bolstered by a robust partner program more than 400 strong, Sovos brings to bear an unrivaled global network for companies across industries and geographies. Founded in 1979, Sovos has operations across the Americas and Europe, and is owned by Hg and TA Associates.
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